- Wolverine World Wide (NYSE:WWW) provides a business update ahead of investor meetings taking place during the Baird 2020 Global Consumer, Technology, and Services Conference tomorrow.
- The company says its work to proactively maximize its strong e-commerce platform and implement cash generation initiatives is anticipated to result in more than $20M of operating cash flow in the quarter to significantly top its expectations entering the quarter.
- Through the first nine weeks of FQ2, owned e-commerce grew more than 90% Y/Y. Performance brands Merrell and Saucony as well as work brands Wolverine and Cat Footwear led the performance with strong triple-digit eCommerce growth.
- Owned retail stores have started to reopen, and WWW plans to open approximately 70 of its more than 90 stores by mid-June.
- WWW +4.34% after-hours to $24.50.
- Source: Press Release